1、A monopolist produces a good using only one factor, labor. There are constant returns to scale in production, and the demand for the monopolist’s product is described by a downward sloping straight line with slope –1. The monopolist faces a horizonta
A、marginal cost of labor to the monopolist exceeds the wage.
B、marginal product of labor times price of output equals the wage.
C、marginal product of labor times price of output is less than the wage.
D、marginal product of labor times price
2、If a monopsonist pays the wage rate w; then the amount of labor that he can hire is L(w) = Aw, where A is a positive constant. The marginal cost of labor to the monopsonist is:
A、equal to the wage rate.
B、twice the wage rate.
C、half the wage rate.
D、greater than the wage rate but less than twice as great.
3、A profit-maximizing monopsonist hires both men and women to do a certain task. The two sexes are equally good at this task and are regarded as perfect substitutes. Labor supply curves for both sexes are upward-sloping. In order to hire M men, the fir
A、A >
B、
B、A <
c.
C、c <
1.
D、Bc <
A
4、The frangle industry is a monopoly, with a demand curve 100-p; where p is the price of frangles. It takes one unit of labor and no other inputs to produce a frangle. The Frangle-makers Guild is a strong union. The Guild sets a wage and prevents anyon
A、the price of frangles will be 50.
B、the price of frangles will be 25.
C、the price of frangles will equal the wage rate.
D、the wage will be 50.
5、The bauble industry is competitive with free entry. There is a fixed-coefficient technology. One unit of labor and one unit of plastic are required for each bauble. Workers in the bauble industry must all belong to the Bauble-makers Union. The union
A、100
B、10
C、45
D、20
6、A coal producer has a monopoly on coal. A different monopoly controls the railroad that takes the coal to market. Each monopolist chooses prices to maximize its profits. If the coal monopolist buys the railroad then it will increase its profits by r
A、对
B、错
7、For a monopsonist, the more elastic the supply of labor, the greater the difference between the marginal cost of labor and the wage rate.
A、对
B、错
8、If a monopolist faces a competitive labor market, it will hire labor up to the point where the price of output times the marginal product of labor equals the wage rate
A、对
B、错
9、If a labor market is dominated by a monopolist, it is possible that the imposition of a minimum wage law could INCREASE the amount of employment in that market.
A、对
B、错
10、If an upstream monopolist sells to a downstream monopolist, the price to consumers will be higher than the competitive price, but not so high as it would be if the downstream monopolist took control of the upstream monopolist’s business and ran both
A、对
B、错
